March 28, 2024

National Treasurer Rosalia de Leon is hopeful that investors of the first Premyo bond issuance will still avail of the second issuance that will be launched on Nov. 11.

The minimum target for the second issuance is P3 billion. De Leon expects the amount will be taken in by holders of the first Premyo bond.

“I hope all (of) P3 billion will switch,” she said.

The offer period for the Premyo bond to be issued this year is until Dec. 11.

The Bureau of the Treasury first issued the one-year Premyo bond in November 2019 and upsized the issuance to P4.961B from the P3B offer due to strong demand.

The debt instrument is one of the government’s offerings for retail investors since minimum placement is P500 while the maximum investment is P10 million.

Holders of this debt paper are qualified for the quarterly raffle and the major winner for each quarter secures P1M and a house and lot or a condominium unit.

De Leon said holders of the initial issuance are qualified to join the second issuance and may win in the raffle for the last quarter, which is set on Dec. 18, and for next year.

“They just need to advise their bank to switch PB1 (Premyo Bond 1) to (Premyo Bond) 2,” she added.

De Leon said investors can avail of the debt paper over-the-counter through several banks online by using the mobile application Bonds.ph and the BTr website, and the new app that will be announced soon.

Last year, the government tapped the Land Bank of the Philippines, Development Bank of the Philippines, BDO Unibank, Metropolitan Bank & Trust Company, and China Banking Corporation as Premyo Bond selling agents.  – PNA release